CNO Financial: 3 Key Takeaways for Long-Term Investors

CNO Financial reported a 47% increase in operating earnings per diluted share to $1.90 in Q3 2026. The company is capitalizing on a shift from Medicare Advantage to Medicare Supplement coverage, with new annualized premiums up 41% in the quarter. CNO completed a reinsurance agreement transferring $270 million in statutory life reserves to Bermuda for capital efficiency. The company's captive distribution network and exclusive middle-market focus provide a competitive moat, with 17 consecutive quarters of sales growth.